Monday’s currency watch update

by | October 23rd, 2017, 19:50:15 | Technical Analysis

Forex Buyers and sellers

Directions ok, adapting to the speed

  • The Monday, Monday feeling was right on a heavier EURO. Need to keep things light and flexible as the week sees bigger fish to fry though.
  • Eurusd tested, did some stops below,but again fails to hold below 1.1730, I cut half of shorts , keep stop above 1.1770 on the rest.
  • USDJPY and USDCHF still in play but the crosses keep a lid on the pairs. Patience on longs, stop raised on USDJPY to 113.10, USDCHF still @ 0.9790. Both longs in the money from last week.
  • EURGBP did come off, but in line with eurusd doesn’t really break lower, as Brexit uncertainty keeps a shadow over GBP. Trading opportunistically with a tilted to lower bias.
  • AUDNZD got into the long @ 1.1190 as per this morning. Need to overcome 1.1220/25 again to make the position viable. Short term stop tight 1.1175
  • USDTRY working well,a break through 12.7200/50 (Jan ’17 lows) should make a push up to 3.77 possible. Bringing stop up to 3.7030 , just under the 50% retracement of the day, guaranteeing profit on the original position from 3.6875.
  • Good evening all
K-man
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